TCW Senior Loan ETF Q1 2026 Commentary
Crude oil prices rose steadily throughout the quarter before accelerating sharply in March, with Brent crude ending the period near $118 per barrel, marking its largest quarterly increase since the Gulf War era. The TCW Senior Loan ETF fell 0.5% in the first quarter of 2026, based on net asset value (NAV), to finish ahead the Morningstar LTSA Leveraged Loan Index by 2 bps. Relative outperformance was driven by sector allocation decisions, in particular, the underweight software services as it was the bottom performer amid the AI-driven uncertainty.
